Stuttgart – Württembergische Lebensversicherung AG (WLV) has sold the Eppendorfer Centre to the Hahn Group. The property in the Hamburg district of Eppendorf changed hands for EUR 103 million and will become part of one of Hahn’s special real estate funds. The mixed-use centre has a total rental area of some 17,900 square metres. It comprises a former Karstadt department store building which was extensively upgraded in 2009, and a second building dating from 2008 which is used by the Hamburg North district to house various town hall services. The former Karstadt building is let to a number of different retail tenants, a medical centre and hospitality operators.
A CMS team headed by lead partner Dr Volker Zerr advised Württembergische Lebensversicherung on the legal aspects of the sale. The real estate team led by the Stuttgart-based partner regularly advises WLV on its property transactions.
Württembergische Lebensversicherung, which is headquartered in Stuttgart, is one of the largest life insurers in Germany. It is majority-owned by financial services group Wüstenrot & Württembergische.
Dr Volker Zerr, Lead Partner
Dr Martin Prothmann, Counsel
Sandra Scheib, Senior Associate, all Real Estate & Public
Luise Uhl-Ludäscher, Principal Counsel, Tax